Novartis (NVS +0.3%) gives an upbeat prognosis about its pipeline ahead of its investor day,...

Novartis (NVS+0.3%) gives an upbeat prognosis about its pipeline ahead of its investor day, predicting that it could produce at least 14 "blockbuster" drugs within five years and help offset the the expiry of patents on existing top-earning treatments. The most promising drugs include LCZ686 and serelaxin for heart failure despite the latter's mixed Phase III trial, as well as medicines for psoriasis and multiple sclerosis.